Gibson, Dunn & Crutcher's Digital Currencies and Blockchain Technology team advises financial institutions, corporations and service providers on the U.S. state and federal regulatory regimes and legislative issues surrounding decentralized digital currencies and blockchain technology, as well as international and cross-border matters related to their use. This includes virtual currencies and cryptocurrencies, such as Bitcoin. Our lawyers have a current, substantive and technical understanding of the ever-evolving world of virtual and digital currencies and the blockchain technology behind them – a competence that sets our team apart and is essential for comprehensive client counseling.
We assist clients in evaluating the practical uses and legal effects of introducing decentralized digital currencies and blockchain technology into their businesses. We frequently counsel clients in preparing and implementing the necessary anti-money laundering, Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) requirements imposed on money services businesses, including entities using or considering the use of decentralized digital currencies. Our lawyers also help in the creation, structuring and use of financial products involving these currencies and/or blockchain technology, including derivatives. We additionally often advise on compliance with U.S. federal, state and local laws and regulations relating to privacy, cybersecurity, data security and related issues.
Our team members have a wealth of extensive experience in private practice and at senior government levels, bringing knowledge from different disciplines to create a uniquely diverse group. This allows us to address seamlessly all significant issues – from regulatory impact to policy concerns to cybersecurity issues to product development and implementation.
We have a thorough understanding of U.S. federal regulatory agencies and their rules, including those arising from:
- The Financial Crimes Enforcement Network (FinCEN)
- The Commodity Futures Trading Commission (CFTC)
- The Securities and Exchange Commission (SEC)
- The Internal Revenue Service (IRS)
- The Consumer Financial Protection Bureau (CFPB)
- The Federal Election Commission (FEC)
We have a deep familiarity as well with federal legislative developments and policy efforts surrounding decentralized digital currencies. We counsel on relevant state law requirements and legislative developments, including those arising under the New York Department of Financial Services' (NYDFS) new regulations. And our team can guide clients through virtual currency developments in countries and organizations around the world.
With our sophisticated substantive capabilities, we are effective client advocates before regulatory agencies and the U.S. Congress and can guide our clients through the implementation and registration processes that cut across regulatory agencies at state, federal and cross-border levels. As relevant laws develop globally, our Digital Currencies and Blockchain Technology team is well-equipped to advise on compliance and implementation and to advocate on our clients' behalf.
Team members are frequent speakers on issues relating to digital currencies and blockchain technology and have published articles and alerts on related topics.